Faber: Government Bonds are DOOMED!
Gloom, Boom & Doom publisher Marc Faber speaks with Bloomberg Television, reporting on how stocks are actually safer than bonds now.
Bearish on the future of our entire financial institution, Mr. Faber says stocks are gaining attractiveness as bond markets are crumbling.
He believes government bonds will be useless in the near future because governments will default. If they do not default, the government will have to print such an abundance of money, that the purchasing power of all forms of fiat currencies will “deplete rapidly.”
Sure, when given the choice of having bonds, Faber would take U.S. bonds over Spain's or Italy's.
BUT, when given the choice to have bonds, real estate, equities, or commodities, Marc Faber said he would much rather have precious metals, commodities, and equities making up the bulk of his portfolio.
Here are his latest predictions in the Bloomberg video interview featured below. *Warning*: things aren't looking too good...
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